MTRONIC

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LETTER OF INTENT AWARDED BY MTPS INNOTECH COMPANY LIMITED ("MTPS") TO METRONIC MEDICARE SDN BHD ("METRONIC MEDICARE"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY

METRONIC GLOBAL BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-24022021-00002
Subject LETTER OF INTENT AWARDED BY MTPS INNOTECH COMPANY LIMITED ("MTPS") TO METRONIC MEDICARE SDN BHD ("METRONIC MEDICARE"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY
Description
ADDITIONAL INFORMATION ON THE LETTER OF INTENT AWARDED BY MTPS INNOTECH COMPANY LIMITED ("MTPS") TO METRONIC MEDICARE SDN BHD ("METRONIC MEDICARE"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY
Query Letter Contents

We refer to your Company’s announcement dated 23 February 2021, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

 

1) For clarity, to confirm whether the SARS-COV-2 NAb Immune System Rapid Test Kit (“Test Kit”) refers to the Test Kit is currently under testing process, pursuant to the Joint Research and Development Agreement between Metronic Medicare and Joysbio (Tianjin) Biotechnology Co. Ltd.

2) To provide further salient terms of the LOI, including:

- Default and termination clauses of the LOI, if any; and

- The amount in penalties for defaults by the respective parties.

3) To state the identity of the major shareholders of MTPS.

4) To elaborate how Metronic Medicare is able to produce the Test Kit at this juncture when the Test Kit is still under testing (as announced on 9 February 2021).
5) The basis to arrive at the number of units to be purchased by MTPS and the unit price of the test kit. 

6) In view of the above, to provide the timeline for the production of the Test Kit.

7) To also state the source of funds/resources for the production of the Test Kit.

8) To state the relevant authorities’ approvals required to produce and distribute the Test Kit.

9) Based on the terms of the LOI, please clarify further on why the Project will not have material effect on the earnings and net assets per share of the Group.

 

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully

 

 

Listing

Regulation

 

cc:-    Market Surveillance, Securities Commission (via fax)

The Company wishes to announce the additional information as required by Bursa Securities, as per the attachment.

 

This announcement is dated 25 February 2021.



Please refer attachment below.



Announcement Info

Company Name METRONIC GLOBAL BERHAD
Stock Name MTRONIC
Date Announced 25 Feb 2021
Category General Announcement for PLC
Reference Number GA1-25022021-00188